Here's how you can enhance Supplier Sourcing processes with data analytics.

I have always said, spend analysis is the key. Define top 7 supplier monitoring metrics. These are 1.) OTIF : Ontime and Infull 2.) Bid Participation 3.) Account Management 4.) Sustainability on Scope3 5.) Cost Competitiveness 6.) Innovation (Joint Product/Cost Optimization Projects) 7.) Quality Rejection Rate

Data analytics (and having good, clean data!) is the foundation of Supplier Sourcing. Sourcing Strategies will inevitably fall short without good data and robust data analytics.

In terms of current supplier, it is key to keep a KPI on all supplier's performances, you are able make better decisions on who you should source and negotiate better pricing. The best performance to measure is: > Delivery Time > On-Time Delivery Rate > Push-Back Rate > Price Comparison with Benchmarks > Return/Defect Rate > Fulfillment/Shortage/Overage Rate

By anaylizng suppliers you can judge supplier performance and historical prices which help in a future negotiation, and supplier historical quality performance so that quality risk will be minimized, You can also judge Supplier OTIF by analyzing historical data which help in reducing the risk of late supplies, You can also get some insight into vendor manufacturing capability & financial capability by analyzing old data, One can also get insight how vendor reacts to external forces by comparing vendor price data with inflation rate data.

Without a data-driven risk management system in supplier procurement, several risk-related issues can arise. Companies might select unreliable suppliers, leading to disruptions in the supply chain due to delayed / poor deliveries. The lack of data can result in missed warning signs of financial instability or compliance issues within a supplier's operations. Additionally, companies may face increased costs due to unforeseen risks and lack of strategic sourcing. This can lead to reputational damage if the supplier engages in unethical practices. Overall, the absence of a data-driven approach makes it difficult to mitigate risks effectively, compromising the company's ability to maintain consistent production and meet customer demands.

Relationships are crucial in business and life. The same goes for your supplier diversity relationships???????? and supplier relationships. There should be an understanding from the beginning that reports and analytics ?? are conducted to help with the workflow and communications of projects. When a supplier knows how well they are doing will help with negotiations and continued work. These analytics will also help the large corporation know when to begin community engagement for networking to obtain new vendors to meet the current and ??upcoming needs.

La relación con proveedores son vitales para el cumplimiento de resultados. Una buena relación permite que un proveedor brinde su apoyo al momento de nuevas negociaciones, en cumplimiento de tiempos y reacciones en casos de emergencia por temporadas altas. Un proveedor y el cliente siempre deben trabajar de la mano para el cumplimiento de resultados de ambos. ????

Es importante tener un análisis claro relacionado al abastecimiento. Se debe tener la información de momentos donde hay picos de demanda. Adicional se debe realizar un análisis de cobertura de materias primas, inventarios de producto terminado y tener una proyección de venta para tener visibilidad de abastecimiento y poder tomar decisiones.

must be considered: 1. **Alignment with Company's Goals**: While sourcing, it is essential to ensure that the supplier aligns with the company's goals, strategy, policy, and compliance. This alignment fosters long-term relationships and mutual success. 2. **Leveraging Data Analysis**: Employing data analysis and market analysis can significantly enhance our understanding of delivery cycles, performance, delivery timelines, and payment cycles. This, in turn, helps improve the DIO-DSO ratio over time. 3. **Continuous Improvement**: Sourcing is not a one-time task but requires continuous analysis. Given the dynamic nature of the market, it is vital to adapt and evolve our sourcing strategies to stay ahead.

Al momento de abastecimiento siempre es importante comprar entre un 15% o 20% adicional a lo que se necesita. Esto para estar cubierto en casos de pedidos especiales o temporadas altas, así se evitan reacciones de emergencia y obstruir procesos de producción.